Re­tail theft said to hit $ 44 bil­lion

Los Angeles Times - - BUSINESS BEAT - — times staff and wire re­ports

Shoplift­ing and or­ga­nized crime have sur­passed em­ployee steal­ing as the big­gest sources of re­tail theft for the first time in 24 years, a new sur­vey found.

A re­port from the Na­tional Re­tail Fed­er­a­tion said busi­nesses lost an es­ti­mated $ 44 bil­lion in 2014 be­cause of shoplift­ing, fraud or ad­min­is­tra­tive er­ror.

Shoplift­ing ac­counted for 38% of the losses; em­ployee theft fol­lowed at 34.5%.

The av­er­age shoplift­ing in­ci­dent cost re­tail­ers $ 317.84. Depart­ment stores suf­fered the high­est av­er­age losses at $ 482.50 per in­ci­dent, while gro­cery stores had the low­est with $ 96.83 per in­ci­dent.

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